1:55 AM
McGhori
ISLAMABAD: Tethyan Copper, which owns the massive Reko Diq copper-gold project in the Balochistan province of Pakistan, said it has begun international arbitration proceedings in order to protect its rights after the province rejected its mining lease application.
Tethyan, a joint-venture between Chile’s Antofagasta and Canada’s Barrick Gold, said it has begun arbitration proceedings, but it remains open to an “amicable, negotiated resolution to the dispute.”
Earlier this month, Balochistan rejected the mining lease application (MLA) that had been submitted by Tethyan in February.
This came just weeks after Tethyan filed a notice of dispute, after provincial officials refused to meet with its executives, or extend a deadline...
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